Cryptocurrency Price Today: The global cryptocurrency market on Wednesday, July 13, continued to tumble as it approached $870 million, while a global sell-off continued just before the release of US inflation data. Bitcoin, Ether, Dogecoin, Solana fell further south as the global crypto market capitalization stood at 872.41 billion at the time of writing this article. This had fallen by 1.66 percent in the past 24 hours.
“Investors expect tighter monetary policy from the Fed after CPI data is released by the US Bureau of Labor Statistics. If inflation rates continue to climb, bitcoin may find another lower level of support that could extend bearish sentiment in the market,” said Tarusha Mittal, co-founder and COO at UniFarm. macroeconomic factors surrounding the financial markets,” she added.
Bitcoin remained below $20,000 for the day, showing no significant movement in the past 24 hours. Bitcoin price today registered a value of $19,484.76 at 1211 IST, which is a 2.14 percent plunge in the past day.
Bitcoin continued to trade below the $20K level the previous day without any significant movement. Trading volumes in the exchanges remained grim, with a sense of fear in the market. On the 4 hour timeframe, BTC trend continues within the descending channel pattern Immediate support for Bitcoin is expected at $17,700. The daily RSI is trading close to the oversold zone,” analysts at the WazirX trading desk said.
Due to rising inflation, Bitcoin continued to trade below the $20,000 level on Tuesday. The euro fell to its lowest level against the US dollar in the past two decades yesterday, and the strength of the dollar appeared to be impacting prices in the crypto market. If buyers can hold BTC at current levels, we may see it bounce back above the $20,000 level,” added Mudrex co-founder Edul Patel.
Meanwhile, Ethereum prices also remained flat for the day. Ether price also fell 2.83 percent today, to $1,055.68 as of the writing of this article.
“Ethereum, the second largest cryptocurrency, broke the $1,100 level, showing that bears are more powerful than bulls. If this trend continues, we may see ETH reach the US$1,000 level soon,” Patel said.
Here are the top 10 cryptocurrencies and their prices as of July 13, 2022, Wednesday, (according to data from coinmarketcap.com)
Bitcoin $19,484.76 or 2.14 percent loss in the last 24 hours
Ethereum $1,055.68 or 2.83 percent loss in the last 24 hours
Tether $0.9993 or 0.00 percent gain in the last 24 hours
USD Coin $1.00 or 0.00 percent gain in the last 24 hours
BNB $223.72 or 0.82 percent loss in the last 24 hours
Binance USD $1.00 or 0.016 percent gain in the last 24 hours
XRP $0.3146 or 0.44 percent loss in the last 24 hours
Cardano $0.4336 or 3.13 percent loss in the last 24 hours
Solana $33.21 or 1.77 percent loss in the last 24 hours
Dogecoin $0.06074 or 2.54 percent loss in the last 24 hours
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